Hibs post losses amid 'improved financial performance' as Easter Road club draw on Gordon family support
Record turnover - but Euro run revenue and Kieron Bowie record sale not included in year covered
Hibs have declared losses of just under £6 million for the year ending June 2025 - after posting record revenues for the fifth straight year. Although the Easter Road side are still trading in the red, with the support of the majority shareholders, the accounts released on Tuesday evening showed an improvement of £1.3 million on numbers for the previous year.
The figures do NOT include two major cash influxes which will show up in the next set of figures. Their European run, earning major UEFA cash and drawing three sell-out crowds for huge home games against Midtjylland, Partizan Belgrade and Legia Warsaw, fell outwith the period covered.
And the January sale of Kieron Bowie to Hellas Verona in a package worth up to £7 million, by far the biggest fee ever received for a player by Hibs, also won’t show up until next year’s financials.
The summary released by Hibs showed a near-20 per cent reduction in losses to £5.84 million, down from £7.17 million last year. Revenue was up six per cent to a record haul of £16.8 million.
The wages to turnover ratio also improved dramatically to 74 per cent, thanks in part to increased income – but also due to a minor reduction in staff costs over the period covered. The club improved its cash balance from £2.9 million to £3.3 million, while completing improvement work on Easter Road.
In a statement that will be put before shareholders for approval at the AGM on Thursday, March 26, Hibs pointed out: “The 2024/25 campaign saw the club achieve record turnover for the fifth year in a row, totalling £16.8m, despite not having European football at the beginning of the campaign. Across the course of the 2024/25 campaign, the club reported an improved financial performance.”
Shareholders put nearly £5 million into pot
In a reference to the Gordon family, in particular, digging deep to underwrite losses, the statement added: “The club also benefited from the issue of £4.87m of new equity, highlighting the continued commitment of shareholders to support the club’s long-term strategy and development.”
The official statement released also focused on sporting performance, with “results on the pitch” credited for improving the overall financial picture, declaring: “The 2024/25 season saw the men’s first finish in third place in the William Hill Premiership and qualify for the UEFA Europa League qualifying rounds. The campaign included a 17-game unbeaten run – matching our longest-ever run since 1948 – which had a positive commercial impact, through higher attendances at Easter Road, as well as increased match-by-match ticketing sales and hospitality revenue. The club also benefited from an increase in the UEFA Solidarity distributions which are payable to SPFL Clubs that do not participate in European group stage football.
“It was also a fantastic year on the pitch for our women’s team, who won the 2024/25 SPWPL title in historic fashion after beating Rangers 1-0 at Ibrox on the final day of the campaign. That triumph ended an 18-year wait for the league title and earned the team qualification into the UEFA Women's Champions League qualifying rounds.
“There was further success for our Academy, with Darren McGregor’s U18s winning the CAS Elite Youth League title – ensuring all three of the men’s, women’s and U18s team qualified for European football ahead of our 150th Anniversary season.”